Insurance Overview
Insurance companies supply services to a wide variety of customers, from everyday consumers to large corporations.
But do they have guidelines or policies as to who they will and won't insure? Do green and ethical considerations feature in insurance companies' risk assessments?
Might they, for example, offer coverage to munitions factories or companies with significant operations in countries with oppressive regimes? Or might they insure others with poor labour or environmental records?
Green and ethical insurance products
Green and ethical insurance products
For home, motor, travel, life and health insurance, there is a small but growing number of green and ethical insurance products available. A selection is below:
- Co-operative Insurance
Insurance type: home, motor, life and health
This provider has a comprehensive ethical engagement policy in place that governs all its insurance decisions. The Co-op's 'ecoinsurance' scheme offers cash incentives as well as environmental pledges. It offsets the equivalent of 20 per cent of the CO2 from every vehicle insured and also offers premium discounts for greener cars. - Climate Sure
Insurance type: travel
Climate Sure calculates the CO2 produced by flying overseas and pays for it to be 'offset' by funding sustainable energy projects. - Green Insurance Company
Insurance type: motor
This provider aims to offset your car's carbon emissions and offers discounts on greener cars/lower mileage. - Naturesave
Insurance types: home, travel, personal accident and illness
This company puts 10% of its personal insurance premiums in a fund (Naturesave Trust) to benefit environmental and conservation projects. It also offers a free environmental performance review for commercial clients and aims to use suppliers that support sustainable business practices. - Ansvar Insurance Co Ltd
Insurance types: home, motor, travel
Insurance is sold to individuals and organisations with a not-for-profit remit.
Your next steps
What do you do now? Check out our guide Next Steps - Insurance for suggestions on how to give your insurance policies a green and ethical makeover as well as the questions you should be asking your current or prospective insurance provider.
Insurance Search
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Insurance Provider
Axa Insurance
Green/Ethical Products
- AXA Ethical Fund
- AXA Climatesure Insurance (in partnership with Climate Care)
Ethical Lending or Insurance
Axa Ethical Fund applies negative screening to its investment choices. Otherwise the company does not have a set ethical policy regarding who it will insure.
It stated in 2006 that would not invest in or insure any company involved in the production or sale of antipersonnel mines and in 2007 extended this to cluster bombs.
AXA Corporate Solutions deny insurance cover for any vessels that are unable to prove that they are fully compliant with the regulations and standards in force or whose conditions for implementation are in doubt. The underwriting of any fleet with oil tankers over 15 years old - all of which are single-hull vessels - is subject to a full preliminary review by a committee of technical experts.
Responsible Lending
Axa does not lend to its customers.
Financial Exclusion
Axa does not offer any products to the financially excluded (including community projects) nor does it support any credit unions or similar organisations.
AXA is involved with microfinance/microinsurance projects, however, for example: AXA France teamed up with MACIF (assurance) to devise a range of microinsurance products for entrepreneurs.
Environment
Axa has an environmental management system in place and refers to a number of key issues in its literature regarding environmental policy, however, it states that its policies are in their infancy and in the process of being refined and implemented, plus its reduction targets are low relative to its competitors.
Carbon Neutral
No evidence was found of a pledge to make business operations carbon neutral.
Equal Opportunities
Axa prides itself on its approach to gender fairness in the workplace and hiring staff with disabilities. Its equal opportunities policy does not explicitly address other key issues such as race and sexuality, however, though it does contain reference to ‘minorities’.
Women on the Board
The company reports 14.28% women on the board at Group level (2007), there are no women present on AXA Insurance UK’s board of directors.
Voluntary Standards & Initiatives
Axa is a signatory/member of a number of charters and initiatives, including:
Charitable Giving
No public data for UK operations were found. However 2006 figures for the parent company, AXA Group, indicate it donated 0.34% of pre-tax profit in that year.
Axa Insurance
- Investments
- Insurance (Home, Motor, Life, Travel, Pet)
